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Earnings Per Share (EPS) and Dividends | 6 Months Ended
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Jun. 30, 2017
Earnings Per Share [Abstract] |
Earnings Per Share (EPS) and Dividends | Earnings Per Share (EPS) and Dividends EPS Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, including shares issuable upon exercise of stock options outstanding or vesting of restricted stock awards granted under PSEG’s stock compensation plans and upon payment of performance units or restricted stock units. The following table shows the effect of these stock options, performance units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
|  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted |
| EPS Numerator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income | $ | 109 |  |  | $ | 109 |  |  | $ | 187 |  |  | $ | 187 |  |  | $ | 223 |  |  | $ | 223 |  |  | $ | 658 |  |  | $ | 658 |  |
| EPS Denominator (Millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Weighted Average Common Shares Outstanding | 505 |  |  | 505 |  |  | 505 |  |  | 505 |  |  | 505 |  |  | 505 |  |  | 505 |  |  | 505 |  |
| Effect of Stock Based Compensation Awards | — |  |  | 2 |  |  | — |  |  | 3 |  |  | — |  |  | 2 |  |  | — |  |  | 3 |  |
| Total Shares | 505 |  |  | 507 |  |  | 505 |  |  | 508 |  |  | 505 |  |  | 507 |  |  | 505 |  |  | 508 |  |
| EPS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net Income | $ | 0.22 |  |  | $ | 0.22 |  |  | $ | 0.37 |  |  | $ | 0.37 |  |  | $ | 0.44 |  |  | $ | 0.44 |  |  | $ | 1.30 |  |  | $ | 1.30 |  |
There were approximately 0.3 million of stock options excluded from the weighted average common shares used for diluted EPS due to their antidilutive effect for each of the three month and six month periods ended June 30, 2017 and June 30, 2016. Dividends
|  | Three Months Ended |  | Six Months Ended |
|  | June 30, |  | June 30, |
| Dividend Payments on Common Stock | 2017 |  | 2016 |  | 2017 |  | 2016 |
| Per Share | $ | 0.43 |  |  | $ | 0.41 |  |  | $ | 0.86 |  |  | $ | 0.82 |  |
| In Millions | $ | 217 |  |  | $ | 208 |  |  | $ | 435 |  |  | $ | 415 |  |
On July 18, 2017, PSEG’s Board of Directors approved a $0.43 per share common stock dividend for the third quarter of 2017.

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